3.8 Explain the limitations of marketing research used to contribute to the development of a selected organisation’s marketing plans (M2)
In this task I will be looking at the limitations of marketing research, and to do this I will be discussing how marketing research can help develop a marking plan. I will also be looking at the weakness of development in a marking plan. I will also be comparing the two techniques, SWOT and PEST in terms of their usefulness. From this task I will be using the Business level 3 Book 1 and a few websites which will be referenced in brackets at the end of each paragraph which needs referencing.
How market research can help develop a marketing plan?
Market research can help a marketing plan because it …show more content…
When doing research for a new product it is important that you have a period in completing your product. With a big and successful company such as Sainsbury's who bring out new products every week, it common that before they start the set out aims and objectives. With the aims and objectives, you can stay on task and bring out a great product. (Reference: http://www.managementstudyguide.com/limitations-marketing-research.htm)
Sainsbury’s have to ensure they make changes regarding customer needs as quickly as possible. This is important because if Sainsbury’s don’t act on customers’ needs they will possibly decline and lose their current market position because customers will go to its competitors such as Asda or Morrison’s etc. This shows that Sainsbury’s have to make decisions as soon as possible in order to maintain their position in the market and to be better than its competitors through improvement. This will also contribute to Sainsbury’s keeping a good reputation which will also help to attract new customers.
Reliability of the data
When bringing out a new product for an organisation like Sainsbury's it is important that primary and secondary market research that you have collected is reliable and true. If the data that has been collected unreliable, then this could lead to bringing out a new product that will go in decline straight away. Furthermore, there will be a loss in income as the
Click here to unlock this and over one million essaysGet Access
Sainsburys is currently the second largest chain of supermarkets within the UK, with a current supermarket sector share of 16.9%. Sainsbury’s was founded in 1869 and today operates in over 1,200 supermarket and convenience stores, and has over 161,000 employees. We will be looking at a number of areas internally and externally and see how they are effectively or not effectively performing.
Sainsbury’s have a long term goal to deliver their products and keep their customers happy. One of their objectives is to make life easier for their customers by offering products with good quality and service with a fair price. This also makes the customers happy and makes them want to shop
Sainsbury’s goal is to reflect they commitment to meeting customers’ needs; however, they want to shop food, clothing, general merchandise and services also they vision is to be trusted retailer where people love to work and shop. They strategy plan is to know they consumers better than anyone else, be there for them whenever they need them also offering great products and services at fair prices. They colleagues make the difference; they value makes them different.
J Sainsbury plc (Sainsbury) is a retail chain based in the UK. Sainsbury is engaged in grocery retailing through its supermarkets and convenience stores principally in the UK. The company operates its business through three divisions, namely, Retailing, Financial Services and Property Investment. Sainsbury serves its customers through a chain of 537 supermarkets and 335 convenience stores under the brand Sainsburys, and financial services via Sainsburys Bank. Sainsbury offers around 30,000 food and non-food products and services. The company is headquartered in London, the UK J Sainsbury plc Key Recent Developments Mar 11, 2010: Sainsbury launches first bakery college in the UK Mar 08, 2010: Sainsbury to add
Whilst making marketing decisions a business must decide their method of marketing. This will then be the way in which all future marketing activities will be planned. This is marketing planning. It has a huge number of benefits for any business. It’s influenced by the strategic plans of the business and its corporate objectives. Large public limited companies such as Nestle will usually have an overall plan for the business and has set objectives which they’re able to achieve. Smaller companies within the business will then create their own marketing plans which fit in with the overall strategic plan. The business has to consider several questions before coming up with the marketing plan:
Sainsbury has developed different supply chain channels to manage the complexity faced due to different store formats such as country town, Sainsbury local. Sainsbury believes in continues improvement and aims to achieve it in many different ways. Sainsbury recognise the importance of its people who plays a major role in delivering excellent business. The logistic staffs of Sainsbury tend to work in flexible and well maintained environment. One of the collaboration of Sainsbury is to focus on the demands of the consumers and maintain a healthy relationship with the suppliers and other partners. Above all Sainsbury is committed in reducing the impact of its operation towards the environment (J. Sainsbury Plc-b, 2002).
Sainsbury’s customers give most credit to the company’s passion for healthy, safe, fresh and tasty food .Despite the present economic conditions the company stands by its quality related objectives. Good food at fair prices, providing a satisfying shopping experience, spreading and reaching out to customers by opening new stores at various locations. Hygiene anh heath and safety issues given utmost importance .
Sainsbury's continued their programme of change aimed at releasing the talents of their colleagues, helping them to focus on the customer, and restoring their pride in working for Sainsbury's. It's clear to them that new and exciting working environments add to this pride. This will grow as they increase the pace of their programme of developing and extending stores. It is also why they're keen to tell everybody about their acknowledged successes, such as organics and ready meals, their record in protecting the environment and supporting farmers, and new initiatives, such as their innovations in e-commerce.
Given the situation, a determination can be made about its relation to each of the first three steps in the marketing research process. At this point, Joe has already undertaken some actions that are consistent with the defining research objectives step. The first thing that Joe has done is define his situational problem. Although it appears to be lacking in content and clarity, he recognizes “that a great deal of research in
now most customers are using online shopping as the other means of shopping because it is more stress free This year Total Retail surveyed more than 19,000 online shoppers in 19 different countries (price calendar week (PCW),2015). This is a big boost for Sainsbury’s business. And most customers like the brand and go for only the big brands. In the past two years alone Sanisbury's has launched or improved 9,000 of its own label products. "Customers trust us to make the right choices in order to develop own brand products that have the highest health, environment and social standards - these are issues that are very important to our customers, even now, when household budgets are under pressure," Cheryl Kuczynski,(international business
Key concepts of a marketing research problem is first determine management decision problems, and then defining a broad marketing research problem, which in turn should be narrowed down by specific components. These specific components guide researchers to define an approach to the problem, find relevant objective/theoretical framework and choose among